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Asian Development Bank

ADB and GCash Fuse partner to unlock inclusive finance for MSMEs, women and fight poverty in the Philippines

by Contributor February 9, 2026

written by Contributor

ADB grants GCash lending arm Fuse Financing with Php 1.75B credit facility to expand loan access to MSMEs, women entrepreneurs, especially in high poverty areas. ADB’s financing is complemented by catalytic funding from Mastercard to help Fuse reach priority segments.

Micro, small, and medium-sized enterprises (MSMEs) and women entrepreneurs across the Philippines are set to gain significantly better financial access after the Asian Development Bank (ADB) approved a Php 1.75 billion ($30 million) loan facility to Fuse Financing Inc., the lending arm of GCash, the country’s leading finance superapp and largest cashless ecosystem.

Fuse Financing Inc. President and CEO Tony Isidro, Mynt President and CEO Martha Sazon, and Department of Trade and Industry Secretary Cristina Roque award P10,000-worth of capitalization support to each of 10 entrepreneurs to help them grow and strengthen their businesses.

This first-of-its-kind partnership in the Association of Southeast Asian Nations (ASEAN) region was officially launched on February 6 at the SMX Convention Center in Taguig City with the theme “Driving Inclusive Finance for Filipino MSMEs” and was witnessed by over 250 MSMEs, including sari-sari store and carinderia owners and women entrepreneurs. This milestone collaboration enables Fuse to expand its lending portfolio and scale access to credit for the country’s most critical economic drivers.

MSMEs are a cornerstone of the Philippine economy, accounting for around 40% of the gross domestic product and 63% of total employment. According to the Department of Trade and Industry (DTI), there are 1.24 million registered business establishments as of 2024, over 99 percent of which are micro, small, and medium enterprises.

Yet, access to financing remains a key barrier. According to an ADB study, access to credit and capital ranks as the second most significant challenge for MSMEs, after access to markets. With such a financial challenge, it takes less than 12 months for a small business to shut down operations.

“This fintech partnership is the first-of-its kind for ADB in the ASEAN region and marks a significant step in advancing financial inclusion in the Philippines,” said Isabel Chatterton, Director General, Private Sector Operations Department of Asian Development Bank. “By combining Fuse’s digital reach with ADB’s development financing, we are building an inclusive digital financial ecosystem that expands access to finance for women-led and rural enterprises across the country.”

[L-R] Acting Regional Director Jay Acar, Department of Trade and Industry; Martha Sazon, President and CEO of Mynt, the parent company of GCash; Secretary Cristina Roque, Department of Trade and Industry; Tony Isidro, President and CEO of Fuse Financing Inc.; Christine Engstrom Director General for Sectors Department 3 in Finance of the Asian Development Bank; and Subhashini Chandran, SVP, Mastercard Center for Inclusive Growth. The private and public sectors are working together to promote financial inclusion for micro, small, and medium enterprises (MSMEs) and women entrepreneurs. On Friday, the Asian Development Bank and Fuse Financing Inc., the lending arm of GCash, launched a landmark loan partnership for MSMEs together with Mastercard and DTI and conducted a financial literacy workshop to support their growth.

^[1] Asian Development Bank. Factors affecting micro, small and medium-sized enterprises development in developing Asia. https://www.adb.org/sites/default/files/publication/946586/ewp715-factors-affecting-msme-development.pdf Philippine Institute for Development Studies. Evaluation of the Sustainable Livelihood Program’s Seed Capital Fund for Microenterprise Development. https://www.pids.gov.ph/publication/research-paper-series/evaluation-of-the-sustainable-livelihood-program-s-seed-capital-fund-for-microenterprise-development

“We value our partnership with ADB as it strengthens our ability to expand access to credit for MSMEs and women entrepreneurs, who are underserved by the market. By combining our shared expertise and digital reach, we are advancing financial inclusion and helping more Filipinos grow their businesses,” Mynt President and CEO Martha Sazon said.

ADB will also provide up to $125,000 in technical assistance to help Fuse Financing develop tailored financial products and deliver financial and digital literacy training for women, especially those with limited formal education. This aligns with the broader push of ADB and GCash for digital finance and inclusion across Asia and the Pacific.

Complementing ADB’s financing, the Mastercard Impact Fund, with support from the Mastercard Center for Inclusive Growth also extended a catalytic funding to support Fuse in effectively reaching and serving the priority MSME segments.

Fuse Financing Inc. President and CEO Tony Isidro underscored the significance of this partnership especially in supporting Fuse’s mission of delivering fair loans and expanding inclusive credit access for underserved Filipinos.

“Through our partnership with ADB, with additional support from the Mastercard Impact Fund, we are strengthening our mission to make credit accessible to every Filipino who needs it most,” Isidro said. “This investment enables us to accelerate our support for women entrepreneurs and small businesses in underserved areas, sectors with immense potential to drive the country’s long-term growth,” he added.

“This collaboration brings together catalytic capital, digital infrastructure and inclusive design to unlock new pathways for financial security. By working with Fuse Financing and the Asian Development Bank to extend credit to underserved entrepreneurs, we are ensuring that growth in the digital economy is fair and sustainable,” said Subhashini Chandran, senior vice president, Asia Pacific, Europe, Middle East and Africa, Mastercard Center for Inclusive Growth.

(L-R) Martha Sazon, President and CEO of Mynt, the parent company of GCash; Tony Isidro, President and CEO of Fuse Financing Inc.; and Christine Engstrom Director General for Sectors Department 3 in Finance of the Asian Development Bank. The Asian Development Bank and Fuse Financing Inc., the lending arm of GCash, have officially launched their partnership to expand loan access to micro, small, and medium enterprises (MSMEs) and women entrepreneurs, a move that is seen to accelerate financial inclusion and unlock growth for underserved sectors across the Philippines.

To commemorate this partnership, 10 MSMEs nominated by the Department of Trade and Industry (DTI) were awarded with capitalization support to help advance their business operations. DTI Secretary Ma. Cristina Roque also graced the event and delivered a keynote message to all the MSMEs in attendance highlighting how synergies like this unlock growth and inclusion.

“More than the scale of financing, what makes this partnership meaningful is its intent: to ensure that capital reaches entrepreneurs who are ready to grow but have long been underserved by traditional systems. By aligning public-sector priorities with private-sector innovation, this collaboration helps widen the path to formal, fair, and sustainable access to finance for MSMEs,” Secretary Roque said in her speech.

A day of FinLit for MSMEs

Alongside this partnership launch, Fuse gathered over 250 sari-sari store owners and women entrepreneurs to experience financial literacy workshops designed to help them manage their finances better, borrow responsibly, and build more resilient businesses.

Attendees were equipped with the knowledge to access digital loans, improve their eligibility for loan access, and practice responsible borrowing. In addition, MSMEs were taught how to integrate digital platforms into their operations to improve efficiency.

[L-R] Subhashini Chandran, SVP, Mastercard Center for Inclusive Growth; Christine Engstrom Director General for Sectors Department 3 in Finance of the Asian Development Bank; Tony Isidro, President and CEO of Fuse Financing Inc.; Secretary Cristina Roque, Department of Trade and Industry; and Martha Sazon, President and CEO of Mynt, the parent company of GCash. The Asian Development Bank and Fuse Financing Inc., the lending arm of GCash, have launched a landmark partnership with a Php 1.75B loan facility aimed at supercharging credit access in the country. Joining them are Mastercard who extended a catalytic funding and the Department of Trade and Industry (DTI), underscoring strong public–private collaboration to support inclusive and responsible financing for MSMEs.

MSMEs are vital to national progress but remain underserved by traditional financial institutions. According to an ADB study, access to credit remains a most significant challenge for MSMEs^[3]. Leveraging GCash trust scoring system GSCore as part of the creditworthiness assessment, Fuse eliminates the traditional barriers to lending, with no collateral or documentary requirements needed to secure loans, enabling greater credit access for everyday Filipinos.

The ADB-Fuse partnership aims to unlock MSME’s growth potential and contribute to inclusive economic expansion. Unlike traditional financing, the capital is designed for impact, carrying firm social mandates that ensure measurable inclusion. This serves as a model for how fintech and development institutions can align with purpose, transforming financial access by ensuring that opportunity reaches those who can create lasting social and economic change.

For more information, please visit www.gcash.com.

^[2] Philippine Institute for Development Studies. Evaluation of the Sustainable Livelihood Program’s Seed Capital Fund for Microenterprise Development. https://www.pids.gov.ph/publication/research-paper-series/evaluation-of-the-sustainable-livelihood-program-s-seed-capital-fund-for-microenterprise-development^[3] Asian Development Bank. Factors affecting micro, small and medium-sized enterprises development in developing Asia. https://www.adb.org/sites/default/files/publication/946586/ewp715-factors-affecting-msme-development.pdf

February 9, 2026 0 comments

News

SP Oks Trust Fund for Davao Bus Project

by Nova Mae Francas December 2, 2025

written by Nova Mae Francas

THE 21ST City Council approved on Tuesday, Dec. 2, the measure creating a Trust Fund, which serves as a counterpart of the local government for the Davao Bus Project.

The ordinance provides for the management of the Trust Fund pending the implementation of the Davao Public Transport Modernization Project (DPTMP).

Councilor Danilo Dayanghirang said the allocation is sourced from the General Fund and will be placed in a new special account, which the city government will open through the Department of Budget and Management.

The DPTMP is backed by a P54.89 billion loan from the Asian Development Bank, which is eyed to replace the city’s jeepney network.

Once operationalized, a 672-kilometer integrated bus network will be created with a fleet of 380 electric and 720 Euro-V diesel buses.

The Department of Transportation (DOTr) has allocated approximately P2 billion for the Davao Bus Project in 2026, significantly lower than the P14-P17 billion.

Atty. Tristan Dwight Domingo, assistant city administrator and Davao Bus Project manager, revealed the city’s counterpart amounts to P1.5 billion.

In an earlier interview, Domingo said the trust fund reflects the city’s commitment to the project.

Domingo stressed that the allocation will ensure that the city is prepared once the project is implemented and will avoid financing problems.

“This is a multi-year undertaking for the city. Our proposed strategy is to allocate specific amounts each year into the trust fund, based on the project’s evolving financial needs,” he said.

The city is confident of reaching the target as it will be sourced from local revenues, considering the city is now generating over P4 billion annually.

December 2, 2025 0 comments

Business

US-ASEAN Business Council and ADB co-host 2nd Consecutive Partners’ Night

by Contributor September 23, 2025

written by Contributor

MANILA, Philippines – On Sept. 15, the US-ASEAN Business Council (USABC) and the Office of the U.S. Executive Director at the Asian Development Bank (ADB) successfully co-hosted Partners’ Night for the second consecutive year, marking the official kickoff of activities leading to the ADB’s 13th Business Opportunities Fair (BOF).

The engagement commenced with consultations between USABC member companies and ADB sectoral teams on procurement, digitalization, healthcare, infrastructure and transportation, and energy, with participation from the U.S. Government, ADB’s Philippines Country Office, and the Private Sector Operations Department.

The reception welcomed around 80 distinguished participants, including senior Philippine government officials, representatives of multilateral and development institutions, members of the diplomatic community, and private sector leaders. Building on the success of last year’s inaugural Partners’ Night, this year’s gathering further strengthened dialogue and collaboration, underscoring the sustained engagement of U.S. companies in advancing sustainable development and shared prosperity across the region.

In her opening remarks, Abigail Demopulos, Alternate U.S. executive director to the ADB, said, “We are committed to helping our U.S. private sector partners achieve tangible results and realize their goals with the Asian Development Bank. Being on the ground, making connections, and showing a long-term commitment to the Asia region is absolutely vital for U.S. companies.”

Florina “Binggay” Vistal, USABC’s chief representative in the Philippines, underscored USABC’s commitment to advancing collaboration with the ADB. She remarked, “This collaboration is not only about dialogue— it is about aligning strengths and working together. Our member companies bring expertise, innovation, and long-term commitment, and they are eager to complement ADB’s work across its member countries in addressing shared challenges and pursuing new opportunities.”

The Partners’ Night, made possible through the support of USABC member company Astrophysics, served as a prelude to the 13th ADB Business Opportunities Fair taking place from Sept. 16 to 18, 2025. As one of ADB’s flagship platforms, the BOF fosters knowledge-sharing, procurement, and collaboration across sectors. Hosting Partners’ Night for the second consecutive year underscores the shared commitment of USABC and ADB to sustaining momentum in U.S. private sector engagement.

September 23, 2025 0 comments

Business

RIPPLE: Ocean Tech Innovation Conference 2025 highlights blue economy potential

by Nova Mae Francas July 30, 2025

written by Nova Mae Francas

THE RIPPLE: Ocean Tech Innovation Conference 2025 on Aug. 1 at the Molave Hotel, Tagum City, will tackle the potential of the blue economy through innovations, pitches, and expert discussions.

RIPPLE is organized by Blue Economy Underpinning Global Sustainability through Adaptive Innovations (BUGSAI TBI) of the Davao del Norte State College.

Rob Gumba, BUGSAI TBI manager, said the conference will serve as an avenue for industry players and other stakeholders for ideation of start-ups.

About 150 innovators will convene at the RIPPLE, including the Information and Communications Technology and engineering organizations, researchers, fisherfolk organizations, government agencies, and other interested innovators.

The one-day event will feature keynote talks about the Blue Economy, Fisheries and Aquaculture, Shipping, Maritime Trade, Ocean-based Logistics, Climate and Disaster Resilience, Marine Protection, Conservation, and Preservation, and Renewable Ocean Energy to promote the understanding of these domains and a deep dive discussion on their challenges and opportunities.

The event will feature a trade fair for marine-based products, a techno fair for ocean tech and research, and a pitching of blue innovations from DNSC.

Gumba said it is high time to explore the potential of the blue economy and take advantage of the Philippines being the second-largest archipelagic country in the world, with 7,641 islands.

“There are already blue tech emerging, and it’s more prevalent in other countries. The Philippines is the second largest archipelago, which should be something that our innovators should look into,” Gumba said during the Habi at Kape media forum on Wednesday.

To note, the Asian Development Bank promised a $400-million or about ₱23.4-billion loan to restore marine ecosystems and strengthen the country’s blue economy, as part of the lender’s $24-billion support package for Southeast Asia through 2028.

ADB President Masato Kanda announced this at the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) Summit on May 28.

BUGSAI, citing ADB, said the country, with its ocean-based industries, accounts for an average of 4% of GDP in 2018–2023. Fisheries dominate, accounting for nearly 30% of ocean-based industries in 2023, followed by the manufacture of ocean-based products (20.9%), maritime transport (15.0%), and ocean-based power generation (10.3%).

The emerging industries, such as marine biotechnology, coastal tourism, and offshore renewable energy, also present vast opportunities for expansion, while coastal tourism offers extensive employment opportunities and income generation.

Meanwhile, marine renewable energy—offshore wind, solar, wave, and tidal energy—can help the country reach its target of increasing renewable energy’s share in power generation to 35% by 2030 and 50% by 2040.

“We are expecting developers or tech groups to be able to look into the blue economy for possible inspiration for a start-up or a project,” Gumba said.

July 30, 2025 0 comments